11 Secrets to Paying Off Credit Card Debts
11 Secrets to Paying Off Credit Card Debts
The current growth of UK debt is £1million every 8 minutes and we all contribute a Stonking £263 million in interest a day. There is currently 27.4million credit cards transactions made a day with a total value of £1.56billion. The total credit card debt in the UK for September 2008 was £55.7 billion and the average adult in the UK has approximately 4 credit cards, store cards and debit cards.
It is little wonder that we are all looking for the ‘secrets to paying off our credit card debts.’ We make our monthly payment and then find that we paid more in interest than the amount that was reduced off our outstanding balance. Frightening isn’t it!
When you look closely at your credit card statement you will see that the interest rates are somewhere between 0% and 27% per year depending on the provider. The average card is generally around the 17% +/-mark.
The secrets to paying off your credit card debts are:-
Now that you are debt free and in control of your finances you may like to try this. You have now qualified as a Master Credit Card Tart. Apply for a 0% credit card. Then withdraw the full amount of credit they have given you and buy National Premium Bonds. Pay the minimum monthly payment allowed. At the end of the 0% deal move the balance to the next 0% deal and so on. Here is the best bit it will never cost you anything and all the winnings are tax-free and all yours courteous of the credit card company. You may just be one of the two lucky £1million Winners that they announce each month. What a flexible friend you now have!
The eleventh secret is you could contact Finance Claims Checker and let them see if your credit card agreements are invalid and unenforceable in law. If they are then they may be able to have your credit card balances written off using their solicitors and the legal loopholes in the Consumer Credit Act 1974.
